1 oz Lost Cities Silver Round

Mason Mint Lost Cities Silver Round

The 1 oz Mason Mint Lost Cities silver round belongs to a themed series (also marketed as "Mythical Cities") depicting legendary cities from mythology and ancient lore. Produced by Mason Mint, a private mint based in Dade City, Florida, the series combines detailed die work with .999 fine silver in both 1 oz round and 10 oz bar formats. The inaugural release featured Atlantis, with Asgard (from Norse mythology) following as the second design.

Mason Mint is a relatively young operation that has built a reputation for high-detail engraving, competing in the "art round" segment against established private mints. Their products trade at premiums above generic rounds (Buffalo, Walking Liberty designs) but below government-issued collector coins, occupying the middle ground where buyers want visual interest without paying for legal tender status or sovereign mint branding.

The series bridges mythology and bullion investing, offering designs drawn from culturally resonant lost civilisations. The naming inconsistency between "Lost Cities" and "Mythical Cities" across different dealer listings appears to reflect a rebranding decision, likely broadening the scope beyond cities theorised to have existed (Atlantis) to include purely mythological realms (Asgard). Both the brilliant uncirculated and antique finish variants are available, with the antique treatment giving a weathered, aged appearance that suits the ancient myth theme.

Lost Cities Round Specifications

Known Designs

Atlantis (first release): The reverse depicts the Greek god Poseidon wearing a crown and holding his trident, with fish and an Ionic-style temple in the background. Seashells and squids fill the outer rim. Inscriptions read "POSEIDON" at the bottom and "OCEAN EMPEROR" at the top. The obverse depicts the lost city of Atlantis with architectural elements beneath waves.

Asgard (second release): Depicts the mythical Norse home of the Aesir gods, available in both BU and antique finish.

The 10 oz bar format for the Atlantis design is unusual in the art-round market, where most themed products stay in the 1 oz format. The larger format offers a lower per-ounce premium for buyers who want more metal content in the design series. Products from this series are listed as "Sold Out" on the Mason Mint website, suggesting limited production runs with no ongoing restocking.

Tax Treatment for Mason Mint Lost Cities Rounds

As private mint rounds with no legal tender status, the Lost Cities series receives the least favourable tax treatment available for silver bullion products across all jurisdictions.

• United States: Not IRA-eligible. Private mint rounds do not meet IRS requirements for precious metals IRAs, which require government-issued coins or bars/rounds from LBMA/COMEX-accredited refiners. Mason Mint is not LBMA-accredited. Sales tax varies by state; approximately 35 states exempt precious metals purchases regardless of the issuing mint. Capital gains taxed at the 28% collectibles rate.
• United Kingdom: Subject to 20% VAT on purchase. Not CGT-exempt (not legal tender). Available from UK dealers like Atkinsons Bullion. The margin scheme applies only to pre-owned items purchased by the dealer at a lower price, not to rounds bought new from the mint.
• European Union: Subject to standard VAT rates (17-27% by country). Does not qualify for the investment silver coin exemption, which requires legal tender status from a recognised sovereign mint. No margin scheme advantage for new rounds.
• Canada: Subject to GST/HST. The .999 purity meets the 99.9% threshold, but the private mint round format may not qualify for the precious metals exemption intended for refined bullion in bar, ingot, coin, or wafer form.
• Australia: Subject to 10% GST. Does not meet the investment-grade precious metals criteria, which requires accredited refiner status for non-coin formats.

The tax disadvantage is most acute in the UK and EU, where the 20%+ VAT on purchase and CGT on disposal create a significant hurdle for rounds to recover their total cost (premium plus tax) on resale.

Lost Cities vs Other Art-Round Silver Series

The Lost Cities series competes in the themed art-round market, where buyers pay modest premiums above generic silver for detailed designs and series collectibility.

Vs Elemetal Privateer Series: The Privateer (nautical themes, 2 oz ultra-high relief) was a pioneering private mint series that developed genuine secondary market demand. The Lost Cities follows a similar playbook: themed designs, limited production, collector appeal. The Privateer's completed 7-coin series gives it a defined scope that collectors can complete; the Lost Cities is newer with fewer confirmed designs, creating uncertainty about the series' long-term trajectory.

Vs Intaglio Mint Rounds: Both Mason Mint and Intaglio Mint operate in the art-round space with similar production philosophies: detailed dies, limited runs, premium pricing. Intaglio has a longer track record and stronger brand recognition among US collectors. Mason Mint's advantage is the availability of the 10 oz bar format, which Intaglio does not offer for their themed series.

Vs Scottsdale Mint Stacker Rounds: Scottsdale's stackable rounds prioritise utility (interlocking design for neat stacking) over artistic elaboration. Lower premiums, higher production volumes, designed for investment rather than display. The two products serve fundamentally different buyer motivations.

Vs Generic .999 Rounds: Generic 1 oz silver rounds from various mints trade at minimal premiums (5-10% above spot). The Lost Cities premium above generic rounds represents the cost of artistry. For buyers focused purely on accumulating silver weight at minimal cost, generic rounds are more efficient. For buyers who want their silver collection to have visual and thematic interest, art rounds like the Lost Cities justify the additional outlay, provided the buyer accepts that the design premium may not be fully recoverable on resale.